New Settlement Affects Homebuyers

This is a US news story, published by Yahoo Finance, that relates primarily to Avi Sinai news.

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real estate agent compensation

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real estate agents

Yahoo Finance

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Buying a house just got trickier

Summary

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80% Informative

Starting Saturday , real estate agents who list homes for sale on a widely used database for agents can't advertise compensation to homebuyers' agents on that database.

The goal of the changes is to provide more transparency around real estate agent compensation.

"These are probably just like growing pains," says real estate attorney Avi Sinai .

Only 41% of buyers in the US had a written agreement with their real estate agent, according to the NAR report.

For first -time buyers, that percentage was just 34% .

Novice buyers may want more hand-holding and are more amenable to the old 2.5% to 3% commission.

VR Score

Informative language

Neutral language

Article tone

informal

Language

English